QuidCycle - The Most Innovative New Entrant

We have been named the ‘Most Innovative New Entrant’ at the first AltFi Awards. This award recognises the new entrant that is most likely to thrive on the basis of a unique structure. It was one of the most hotly contested awards at the event amongst the younger platforms.

We have been named the ‘Most Innovative New Entrant’ at the first AltFi Awards. This award recognises the new entrant that is most likely to thrive on the basis of a unique structure. It was one of the most hotly contested awards at the event amongst the younger platforms. We fought off stiff competition from Ablrate, Archover, Assetz Capital, CommuterClub, Investly, Landbay, Lending Works, LoanBook, Money & Co., Property Moose, Proplend, QuidCycle, SyndicateRoom, UK Bond network, and Welllesley & Co. to walk away with the recognitions.

Our CEO, Frank Mukahanana, told AltFi that he was: “Absolutely elated – for us to win against so many other platforms is a big endorsement for what we do. If you know how many entrants are coming into the industry, it’s absolutely amazing and all of them are niche, it says a lot for us to win.”

We are a financial services company that provide a suite of helpful and simple products through a financial platform and financial education for investors and borrowers to help the UK’s middle-income families and individuals achieve financial success.

For those who want to achieve financial success and are a responsible borrower who makes all your repayments - we have the answer. We remove the obstacle of personal finance, via low-rate consolidation loans that enable our borrowers to pay off their debts faster. Currently, our average APR is 11%. We take consolidation one step further. Borrowers are offered the opportunity of earning up to 4% cash bonus, free access to financial education and advice. And it does not stop there. We go on to work with its borrowers until they become investors on our platform once their loan is repaid, using the money that was formerly purely used for repayments.

For those who are struggling to see their nest egg grow and would like a great return whilst helping others - we have the answer. Our investors can currently earn up to 6% interest rate on the money they lend through QuidCycle, with flexible terms depending on how long they want to keep their money invested – but the longer they commit to, the greater the return they stand to earn. They can grow their nest egg safely in the knowledge that their investments are spread across at least five borrowers. There is also a Provision Fund, which holds 1.5% of our total loan book, this currently represents six times more than the expected default rate of 0.25%.